Stock market veteran Rakesh Jhunjhunwala has again expressed confidence in Escorts. Jhunjhunwala has again bought 0.60 percent stake in the company.
Rakesh Jhunjhunwala New Portfolio: Today, the strong share of the auto sector, Escorts is seeing a boom and it has reached the price of Rs 1849. In fact, Rakesh Jhunjhunwala, a veteran investor in the stock market, has again expressed confidence in this company. As per the shareholding pattern till 18 February 2022, Jhunjhunwala has again bought 0.60 per cent stake in the company. Escorts has given this information in the BSE filing. Let us inform that Rakesh Jhunjhunwala had increased his stake in the company for the December quarter as well. This stock has proved to be a multibagger for the investors.
Rakesh Jhunjhunwala bought 11 lakh shares
Rakesh Jhunjhunwala has again bought 11 lakh shares or 0.60 percent stake in Escorts. He now holds 5.80 per cent stake in the company, up from 5.2 per cent in the December quarter. In the December quarter, he had 6.4 million shares of the company in his portfolio. Now there are 7500000 shares of the company in his portfolio, whose value has become around Rs 1180 crore.
This stock has been in the portfolio of Rakesh Jhunjhunwala for a long time. In September-June of the financial year 2022, he held 4.8 percent stake in the company. At the same time, in the March and December quarters of FY 2021, he had a 4.8 percent stake in the company. Prior to that i.e. in the September quarter of FY 2021, he held 5.6 percent stake in the company and 7.4 percent in the June quarter.
280% return in 5 years
Escorts Limited’s stock has proved to be a multibagger in 5 years. The stock has given a huge return of 280 per cent in 5 years. During this, the share price has gone up from Rs 489 to Rs 1849. The return of the last 1 year in the stock has been around 44 percent. The recent fall in the market has affected the 1-year returns of the stock. Because muted growth has been seen in the stock in the last 1 month.
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